Huge Group CEO James Herbst

Huge Group said on Thursday that it will not meet the end-June deadline to publish its annual report and financial statements after its CEO, James Herbst, contracted Covid-19.

“Shareholders are hereby informed that the CEO of Huge tested positive for Covid-19 on 15 June 2021 and has only recently recovered and come out of isolation,” it told shareholders in a statement issued via the JSE.

“This has had an impact on his review of the integrated report for the year ended 28 February 2021 and his ability to make the positive statements required in terms of paragraph 3.84(k) of the JSE’s listings requirements,” Huge Group said.

As a result, the publication and distribution of the report has been delayed. “Huge will be publishing and distributing the integrated report, including the annual financial statements and notice of AGM, by no later than Wednesday, 14 July.”

Huge Group is currently pursuing an all-share acquisition of JSE-listed software services group Adapt IT, which is also the subject of an all-cash takeover bid from Canada’s Volaris Group.  — © 2021 NewsCentral Media